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FSL Trust Agrees To Sell One Chemical Tanker

The Board of FSL Trust, as trustee-manager of First Ship Lease Trust, announces that FSL-9 Pte. Ltd., a wholly owned subsidiary of the Trust, has entered into a memorandum of agreement to sell the vessel FSL New York to an unaffiliated third party and received the initial 10% deposit in escrow.

The Vessel is a 19,970 DWT chemical tanker built at Usuki Shipyard in Japan in 2006 and has most recently been trading in the spot market.

The Disposal is made in the ordinary course of business. Details of the Disposal in accordance with Chapter 10 of the Listing Manual of the Singapore Exchange Securities Trading Limited will be disclosed upon completion of the Disposal.

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